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Friday, April 27, 2012

The Battle with Philippine Prudential Life Insurance Company, Inc. (PPLIC)

I wasn't the type who had issues with how the Philippine Prudential Life Insurance Company Inc. (PPLIC) tricked their customers. Although for one, their agent had been dishonest with saying that for me to be able to pay the initial 11k by installment, I had to go to Banco De Oro (BDO) to discuss this with them. And that I did! Unfortunately, BDO told me that it were up to PPLIC to debit or credit it in installment basis.

RUN FOR YOUR LIVES!!! ENTER AND YOU ARE DOOMED!

Before the 15 days were up, I went back to Philippine Prudential Life Insurance Company, Inc. (PPLIC) to express my dismay with this news. They even had me talk to their branch manager. For someone who values their customer's money, I was pretty much surprised when he mentioned that I would not have to worry about the finance charge as it won't be too high. Eventually, I decided to push through with it given the assurance from the manager that Banco De Oro's (BDO) finance charge and my total credit were easily payable. It turned out to be 300php- add that to the 3.2% interest they add to your credit card bill.

We were having financial issues so I decided to terminate my plan. My last payment was last January 15 and I decided to pay my February 15 due by March since they had a grace period of 30 days. But then, I also realized that I would not need to pay my February 15 due for me to be able to terminate my plan since according to my policy, I was still within the grace period.

I further confirmed this with the agent and she told me that this would be true. So, supposedly the prorated cash value of my total payment for my plan would be 10,276 php (out of the 35,595 php I had paid them). And I were to receive this within 30-45 days. This contract was signed last March 8, I went back there today- April 25.

Surprisingly, I was not shocked that they have not yet received the payout for my plan. The representative who helped me when I made my request told me that it wasn't there yet. So I asked them to provide me an exact time. They apologized and promised me that they would make sure to call the management based in Manila daily to expedite the process.But this wasn't the worst yet. When they showed me the cash value I was to receive, it only amounted to 9453++. Apparently Philippine Prudential Life Insurance Company, Inc. (PPLIC) wasn't done with stealing their customer's money. They provided me a prorated cash value that had a premium terminated in March! And then, they decided to make February a mispayment and deduct 1,610 more from that cash value!

It was pretty frustrating because the representative I talked to assured me that if ever my plan were to be terminated and given a cash value, it won't go lower than 10,000. And now, she took that back saying that it would be more or less 10,270++ and could possibly go lower than 10k since I did stop during January and that was the estimated computation.

Fortunately, my partner was there to inform her that he also heard the same thing from her. I told her that she assured me that my plan was already terminated last January. But now I see their computation showing that they've decided to extend my plan til March without my consent charging me an extra 1,610 from their March prorated cash value. Seriously, you don't get any lower and greedier than this!

She kept telling us that the computation was from the main office and she couldn't do anything about it. So I told her to send me someone who can. Their supervisor talked to us but the underlying problem was we were assured by the representative that the February due will no longer be charged to us. Speaking of changing the issue, this supervisor even mentioned that supposedly, payments were to be done on the 7th. Well, that's her problem because my contract have specifically mentioned that my dues are to be paid on the 15th. So the manager sent the representative back.

She tried to convince us that the grace period was only for lapse payments but I distinctly recall that there was such a clause in their policy that a plan can be terminated as long as you are still within the grace period.

And fortunately I had read all their policies a number of times so I was able to insist on my points. Moreover,my partner had been strict, diplomatic and calm enough to finally convince her that there was no budging us.

She went back into the office and came out a little later with a defeated look. She now assured us that we are to expect 10,000 from Philippine Prudential Life Insurance Company, Inc. (PPLIC) next week before Friday.

Finally, the Philippine Prudential Life Insurance Company, Inc. (PPLIC) battle, for us, has ended. I can't stop imagining the almost teary-eyed representative who probably got her salary deducted because of us.

Moral of the story: If you are a potential customer, stay away from those freebies. They are practically a pitfall with an extremely high price tag.

If you are working for PPLIC, RUN FOR YOUR LIVES! Don't simply rely on the company's higher management. It sucks and they will unreasonably charge every single plan holder as much as they could making their agents suffer the consequences. I bet they've even secretly paid for employee insurances so they can cash in with their employee deaths (just like Walmart).

EDIT: Just an update of the check I received from PPLIC. So, I finally got my 10,000 php back but it was in the form of a check amounting to 9,453+ (or somewhere between the lines) and some coins and bills exacting to 10,000 pesos. I'm pretty sure the agent had to take some out of her pocket to pay me the 10,000 php she promised us.

258 comments:

hi you should post your experience in the other blogs about this company deceptive marketing style. sobrang dami na nila napapasubo. your experience with them can help the other guys go through their horrible experience with them. marami kang maasist and hopefully prevent na mapasubo. thanks

thanks for posting your experience in the other blogsites. i am sure your experience would prevent them from getting into trouble with pplic. please continue to do so for the sake of all the mall goers that are supposed to be there to relax and have fun but instead are being lured to their offices to experience what we just did. lets call the attention of SEC to check if what they are doing conform to practices of insurance companies. also if they are liquid enough to pay their promises. thanks

Thank you for saying this. I have always felt stupid for making such a mistake in my life but I told myself that maybe the interest will be worth the wait. Then I saw how the "upper management" will try to siphon each and every single penny of the cash value you're supposed to receive for the account's termination.

I sometimes wish to blame the people working in PPLIC but I keep wondering if they are partially pressured to use these tactics by the company itself.

Thanks for this post. I just want to share one of my maddest experience to them. Lately, i was in sm southmall with my friends hanging out and waiting for our screen schedule of one cinema there. Then this agent named, "MJ" simply took our minute regarding their raffle and convincing promos! she said that this would only take a minute and just to write our name to the raffle coupon!. we're so amazed! because of the promos and prizes to be won without any money involved for just listening to their advertisement and company background. So, they requested a "standard time of 45mins." for us to listen. Actually, i told my friend not to join and it only offers you an "INSURANCE". Then, my friend told me that we still have 1 hour left for us and just to pay respect of those agents talked to us!. So i've accepted! i told them that in case, there is no "SAPILITAN" for the decisions we will make after this little talkings!. Then after 45 mins, and explaining the companies goal and plan "KUNO" finally, it gets to the point of this agents keeps on pushing me to release money a worth of 18k++ or a minimum of 6k just to avail their plan.! then i told them, "i was very thankful because of those convincing explanations and offers but i still decided not to avail ANY of your plans." i think they didn't want me to go! so they told me to wait to call my name outside for "PROPER EXIT" (Meh! GANON!). then there is a gay and women agents still fighting for their explanations and keep me pushing to release money to avail of those plans!. then i repeat it all over again!. P.I.! 1hr and 30mins na ayaw pa din ako palabasin dahil nga potential costumer daw nila ako!. then i texted my friend to ask people outside to request for my PROPER EXIT!.ansabi ko, "sir and ma'am! please late na kami sa movie na panonoodin namin and di ba sinabi ko na sa inyo na walang sapilitan kung ano man ang desisyon!. Please! nirerespeto ko po kayo. sana respetuhin nyo din ang desisyon ko!". then, i received a text to my friend saying, "WaLA NA DAW SILANG MAGAGAWA SA LABAS KUNG AYAW KA NILA PALABASIN". Then eto na! naginit na ulo ko at sumigaw na ako!, "GANITO BA KAYONG MGA TAO DITO! HINDI NYO PINAPALABAS ANG CLIENT NYO hanggat di nyo nakkuha ang gusto nyo! SINABI KO NANG AYAW KO! WAG NYO AKO PILITIN! SOBRA NA KAYO MANGHARASS!" then i walked out!... ISA lang po ang gusto ko mangyari sa post ko na to, PPLIC! pls train your agents in sm southmall on how to do exact selling! hindi yung kinukulong nyo sa loob nang room hanggat di nagaavail nang plans nyo! and please learn how to respect your clients' decision!!!

During the time we discussed the termination of my plan with one of the agents, someone approached us and asked if we terminated it. I said yes in a heartbeat. Once outside, we talked about how he felt tricked and manipulated as well. Luckily for him, it wasn't too late to cancel yet.

That's weird. I'm sure you had another reply and I read it. I'm wondering why you deleted it. I think you have the right to complain to the management but the problem is no matter the number of people going in and out their office complaining about these schemes, they just turn a deaf ear and a blind eye to it.

If i may suggest you should file your complaint to the office of the insurance commissioner. Google mo yung website nila. They should have a complaints division. These company should be given a stern warning for placing a potential customer in a situation as you described it. thanks for sharing your experience. I will share the info to all my relatives and friends.GOD BLESS

i am a newly victim of this scam, just yesterday..they hookED me while i was walking in front of their shit office at 5th floor SM Megamall.i was in hurry but someone caught me that i can avail the gift pillow and thumbler.wala daw pong bayad.free lng..so me, i was innocent enough to give them my time..i feel so stupid now.bakit kailangan may mga ganun.i gave them my credit card and they deucted from it worth 14,000…i also signed the said contracts etchetera..PLS IS THEIR ANYBODY WHO CAN HELP ME TO TAKE MY MONEY BACK? OR WHAT ARE THE BEST THING TO DO..PLS PO HELP NU NMN PO AKO…AKO LNG KASI INAASAHAN NG FAMILY KO AT MAY PINAPAARAL PA AKONG KAPATID…

The good news is, since kahapon ka lang nagsign, you can cancel the plan as there is a grace period of 15 days or was it 30) for you to be able to cancel it. Nakalagay yan sa contract (the shiny paper) na binigay nila sa 'yo.

Now remember, they may try different tactics to persuade you to not cancel, but be firm. Kahit na ipakausap pa nila sayu yung manager, don't budge. Inform them na kahit presidente pa yung ipapakausap nila sayo, your decision is final.

Next, make sure you have a written letter from their agent kung when makukuha yung reimbursement mo- or when their charges will be cancelled.

And as per my sister's advice, you might want to call your credit card company and ask them what else you can do to expedite the process of the cancellation of transaction. Hopefully, it doesn't take more than a month before you get their charges wiped from your credit card statement.

I was all up for the free drinks, freebie bag, and the entertainment as I watch their sales tactics fail in response to my replies. It was a fun learning experience. :) Everybody should give their one hour (it's really not just 45 mins) if they have time to spare. You'll learn what a really bad marketing scam is all about, and what tactics they employ. Just remember -- NEVER EVER EVER EVER EVER SIGN ANYTHING YOU HAVEN'T THOROUGHLY READ THROUGH AND UNDERSTOOD. I told them I'll take the documents home and come back the next day.. but they told me that it's a promo and I can't avail of the opportunity the next day or once I walk out of their doors. Haha!! That was the fishy end to the tale.

I think some are lucky to not have been harassed. Some of their agents are respectful enough to understand when they have to quit bothering people. However, there are others such as "The One" who was detained for more than an hour or Tramadol whose decision of asking her parents about it was questioned. That's just plain rude.

When I came in PPLIC, I was already intent of getting their plan. I knew what I was going into. Unfortunately, I wasn't able to continue it due to financial reasons.My problem only started when they kept on delaying the check I was supposed to receive.

Dahil sa frustration ko na wala akong magagawa until sumikat ang araw the following day, gumawa tuloy ako ng Facebook Page entitled FIGHT PPLIC! https://www.facebook.com/fightpplic. Please check it out. By the way, I used your photo above in this page, with proper credits and links to this blog. Please inform me right away if you want it taken down

I just called up the Insurance Commission (02-523-8461) this morning to complain against the PPLIC. What they told me was to have an affidavit made, then file the case against the company at a police station. I could also go to the Insurance Commission’s office to file a complaint there. It’s going to be quite a hassle having to go through these steps but I think that I’m going to push through with filing a complaint at the Insurance Commission’s office. But that would just be an administrative case, now, wouldn’t it? I don’t want to go to the police to file a criminal case but I will research on how I can file a civil case against them so that I can get some damages.

You should have told the officer that your decision should be respected and it's none of their business. Before I terminated my plan, the business manager (of some sort) also approached me. He was the one who assured me that the finance charge would only be minimal. What I disliked about them is that they lied when I asked them regarding the monthly installment. They said it was possible and all I had to do was arrange it with the bank ( when the bank said that it depended on the company)

I admire your determination (or even the anger) in creating this page. It was quite extensive and there were even some information I have not read before.

Has anybody ever wondered why even though a lot of people have complained and that a lot of evidences are already out in the media such as video footage, we don't hear any cases built against them?

Hi, unfortunately, I've availed ther term insurance just this September 4,2012. I can still cancel it right???-- Could you suggest the best and easiest way to do it?--- The worst part was they've already have 3k from my ATM---=(I've already e-mail the e-mail add I've found amidst the docs. they've handed me, asking them if they could verify the accuracy of the Branch I've encountered at Mega Mall, Shaw Boulevard but there was no response..=( --- May I ask your opinion if it's best to gO back to that mall and talk to the same person who negotiated with me?? -- I'm just afraid I may not find him at that time-- thanks----

You probably will still find him talking to another potential customer. The problem with PPLIC is not their legitimacy because they are indeed legit. The problem is the extent their agents are going to just to convince people- they've used delaying tactics, manipulative schemes and persuasions that can make anybody feel harassed or insulted.

As I've said in a previous reply. Yes, you can terminate it since you're still within the 15-day grace period. Before you go there, be armed with the knowledge of their policy because they will try to convince you(even lie to you) just so you continue with the plan. But don't budge. Be firm and tell them your decision is final and you expect them to respect it.

Good luck. Remember, be firm. You are a customer and you have the right to cancel it without them questioning your decision since it is written in the policy that plan holders have a 15-day grace period in policy cancellation.

HI, this is the last person who blogged followed by your response.You see, I was and still am alarmed by all of the blogs,posts,articles & even media clips about this insurance company.I'm not really the type who would "go for it" because of some persuasive tactics or some sort.The problem was I've opted to fall into the bait because I'm also interested in saving my money in a long term basis (securely) without worrying I would be triggered to spend it every now and then for emergency purposes because my money is not in my hand nga naman. Moreover, It comes in a two-purposed act, one is investing and saving for your own future and two is doing the same and securing your family's needs.You see,I'm still new in the city. I arrived at manila last february and started working last march,2012. I remembered the XXX operation posted in telivision but I guess I wasn't really paying much attention that time not until now when I happened to browse on it again..You already said it is really legitimate.. yet it is much better to cancel it if I shall base in all of their bad feedbacks.--- I'm certain having a life insurance term policy but I guess I'ts not yet time for me to do that until I'm much knowledgeable 'bout getting one...Anyway, with regards with the 15-day grace period, am I supposed to have that on hand with all those other docs. they've given me poh??-- kc-- ala poh akong nakita ehh---What I read was "eight(8) calendar days of choosing to change your policy status before premium is billed..."(not the exact word though).

I had the same intention as you. In fact, my sister had her plan from Berkeley (they claimed as their affiliate company) mature already. So I also wanted to start early. It's not that they tricked me or anything. It's just that they gave me a hard time in claiming the cash value of my plan when I wanted to have it terminated.

Yes. Unfortunately, legitimacy isn't an assurance of their credibility or their trustworthiness.

The 15-day grace period should be in their policy. That's the one in white shiny pages. If that's what you've read, they've probably changed it so as to discourage plan holders to terminate it after a shorter period (which is down right dirty).

Either way, if you plan to terminate it, please do so soon. Time is running out if this 8 calendar days is their new time frame for cancellation.

I was hoping to check out their new policy but that's probably too much to ask.

aw,, im also trying to look for that white shiny page,,, i cannot see that one,, im planning to opt out and get a refund also from this shit,, what they only handed me over is the conversion privileges,, nothing stated about refund and cancellation,,, im already frustrated on how can i get my money back,, i already spent 3k for this,, it's not alot but that's what i only have. ,,, please help me, what should i do??

IF THIS COMPANY IS LEGIT, HOW COME THEY ALLOW THIS KIND OF SELLING TACTICS AS YOU HAVE SITED IN YOUR BLOG.PLEASE, LET US NOT FALTER IN OUR BLOGGING ABOUT THIS COMPANY FOR THE GOOD OF OUR KABABAYAN. AT LEAST, MAY MAKIKITA SILANG WARNING ABOUT THIS COMPANY. HUWAG NA NATING DAGDAGAN PA ANG MGA TAONG NALOKO NILA. TAMA NANG TAYO NA LANG.LIKE A SLOGAN IN A TV CHANNEL, AKO ANG SIMULA NG PAGBABAGO...PAGBABAGO PARA WALA NA SILANG MALOKO. LET US ALL MAKE A COMPLAIN TO THE OFFICE OF THE INSURANCE COMMISSION PARA MATIGILAN NA ANG LEGAL DAW NA PANGHOHOLDAP NA ITO.

I agree with you 100 percent. Their ways of obtaining clients are rude, manipulative and deceiving. It is unfortunate that they haven't been stopped by the Insurance Commission even though they've been exposed through multiple documentaries.

I threatened them of pressing charges for such delay. Fortunately for me, they did expedite the termination of my plan so I had no reason to complain further.

Pero this does not mean na yung mga binastos nila di na mag complain. I have noticed that the PPLIC experiences is a lot milder in the smaller cities such as Iloilo. The one in NCR sounds very aggressive.

With all due respect naman sa situation nyo po, alam ko mahirap din maghanap ng trabaho. So if in case your sister will pursue working for them, just tell her to watch her back kasi di talaga sya ipoprotect ng management.

We were forwarded to a person who had a higher position and she eventually gave up and had the original agent who talked to us come back. Kaya yung nadehado was that agent. I honestly pitied her because she had our best interests at heart. I asked her if I understood the policy correctly and she said yes. Pero the management was too selfish na kahit nakalagay na sa policy nila, gusto pa nilang pagdamutan yung cash value.

So the agent was forced to take a couple of hundreds from her salary just to pay for what she had understood was also the correct translation of the policy.

Since nobody has commented about this, then I'll just explain what they told me when I asked them what'd happen if I terminated the plan more than 15 days later and in less than a year.

As you could see in your plan, the cash value is only listed after one year of continuous payment. This means that you will only get the cash value after such (which is pure BS, if you ask me). You might want to go to where you've opened your plan and ask them about this.

Bring a recorder, ask your questions and record their conversations. Then, if they don't budge, look for a lawyer and seek legal advice on this matter. There may be loopholes in their explanation to you that could help you in retrieving your money. However, expect that you won't be getting the entire amount. Act fast.

It's not too late. Just go to their office and have your plan cancelled. Don't budge even when they have their managers and supervisors talk to you.

Although, I'm not sure how long it will take for the money to be refunded, but as long as you get it cancelled before the grace period (which I've heard recently is now 8 days compared to 15 back when I got my plan), you'll be able to cancel it.

You could always drop by their office and demand it to be expedited since you did not sign the policy but they were still able to charge you with 6k.

You could also go to the bank and ask them regarding the voided transaction and why it hasn't gone back to your account. Also, ask them what are the necessary documents you need for you to submit to be able to make this faster.

By the way, my sister mentioned that you should call your credit card company since you have the void slip. Malamang yung nagpapatagal lang dyan daw is sa credit card and all it might need is a call to them para mafollow up yung na void na transation. Also, to confirm that the transaction was in fact voided and nacancell nga sya.

I just encountered this last night in SM North Annex, and unfortunately, they were able to convince me to avail of the plan.

I was on my way to Annex when I was approached by one of the promo guys. My intentions were really good as I just wanted to help him. I fell into his acting skills. He did not give me any hint that their going to offer me this endowment plan. I only learned about it when I was already inside their office located at the ground floor of SM Annex, besides Mang Inasal. I was introduced to my personal presentor who did the very deceiving and annoying salestalk. I told him for the nth time that I'm not interested on availing of any insurance plans but he keep on insisting that I was not different with anyone in the room. He used different tactics to the point that I'm getting quite pissed as he kept on insisting even customizing the plan depending on the argument I'm raising. It was already quarter to 11 when I decided to avail of the endowment as I really wanted to go home. The worse part is I'm alone and I was the only customer left in the room. Then there, I swiped my ATM and 23,107 was automatically deducted in my account, and I went through the whole process unhappily.

On my way home, I was really bothered so the minute I got home, I reviewed the contract carefully as I was not given that enough time while in their office. I also did some research and thankful that I site like this one.

Early this morning I went to their office with my mom. I have the cancellation letter together with the documents which I also photocopied. I firmly showed that I wanted to cancel the plan and did not show any interest in all their whatsoever salestalk again. I talked to their sales manager named SAM CRUZ who seems nice at the start but showed his true color later on as I seem not interested on what he's saying. There were a couple of times that I got really pissed and I started raising my voice. Nakakaiyak sa inis kasi sobrang kulet nya! Good this my mom was with me. He even tried to use my mom to convince me but my mom is completely on my side. I was amazed how expert this SAM as he even told us he's not afraid of whatever we might do and he doesn't care even if we make a scene outside and even if we go to SM Admin.

After almost an hour, they gave up but doesn't stop pissing me. As SAM asked me to make another cancellation letter as he's not convince with my reason of cancellation. It's indicated in the policy contract that I can cancel within the 15 days grace period for any dissatisfaction. I'm cancelling in less than 24 hours and he's even dictating me what dissatisfaction means, which pissed me more! Ang taray taray nya na that time, nakikipagtarayan talaga sya saken. Sabi ko "hindi ako uuwi to make another one, hassle un! Lend me your computer and i'll make one!". Ang ending, naghandwritten ako ng letter. Gusto nya ilagay ko na nabasa ko daw sa internet kaya ako nagkacancel which is not the exact reason why I'm doing so. Syempre di ko sya sinunud. Then never ko na ulet sya nakita. Yung receptionist na lang pinaharap saken at sya yung nagprocess ng cancellation letter and statement of account as proof na cancelled na nga.

Now they asked me to wait for 30-45 working days before I can get my money back. I kept on insisting that why so long if others got theirs in 2 weeks? Pero wala na ko nagawa, pumayag na din ako sa 30-45 working days. They even indicated that fact when it was signed by the receiver.

First of all, advance happy birthday.Welcome to the world of responsible adulthood. I am glad you stood up firmly for your decision. I got my PPLIC when I was your age. I had high hopes for it and I was even willing to see it through 'til the end. Kaso nga lang, I had some financial issues and it was too much to keep up with the payment.

Anyway, sorry you had to go through that. I feel furious na parang minaliit nya yung kakayahan mo and your intelligence. And either way, no matter what he says about not being convinced about your explanation, it's none of his business. Wala namang nakalagay na clause regarding the validity of one's reason to cancel. You should've taken a recorder or a video from your phone and ask him to repeat what he said. I'm sure he'll have second thoughts about saying it again.

Unfortunately, you can't get back your entire premium. As you've read in my post, my cash value was only 1/3 of the premium I paid so expect that if you will be terminating now, your premium will have that same cash value (approximately 1/3). If you still have your policy, you will be able to read it there kung magkano ang cash value for the 1st-2nd year (prorated kasi ang computation nila). It also took them more than 45 days to take care of my termination so you may katagalan talaga.

I Had a sleepless nights because of it. with good intention that i may save for the future, but then i realized that it wasn't worth it. hu.hu. they took my 16+k from my CC at SM CITY, ILOILO.that was Oct.5. the ff. day i returned to them to asked for my money.the manager told me that it was not that easy because it just like buying that you cannot returned it,you can only make some changes. gosh..i was so helpless at that time and i don't know what to do, because i was alone and i had no sleep the other night. until now i do cry, every time i remember that day that i was being fooled and because of what i have done. that was the only savings i have.hu.hu. until now i don't know what to do.. thank you that I've read this blog of yours. i already made up my mind that i should stop my payment in their company. it is of great help to me. thanks God that i've found this one. hope that many people could read this so they may not experienced what i've been through. God speed to all of us. God Knows What's Best for All of Us. WHAT AN EXPERIENCE!!!HINDI NA MAUULIT.HUWAG NA SANA DUMAMI PA ANG MGA VICTIMS.

I had my sister read this story. I was surprised how you had to go through that and as if pinalabas nya pa na di mababalik yung pera mo. Is the manager the guy na moreno at chubby? Or did you talk to a female?

The worst they could do is charge you a certain amount but not take all of your money. I hope binasa mo yung policy nila kasi nakalagay doon kung how long the grace period is (unless pinalitan na nila).

Too bad tapos na yung grace period. Anyway, make sure to have your plan terminated officially (with documents). Call your credit card company and inform them that you have already terminated your plan so they could stop any future charges by the PPLIC to your account.

Hi! I'm the one who posted last October 8. As promised, I'll be back to share an update.

Good news for me! Yesterday I got my full refund, after just 12 working days. I really did not expect to receive it that early because the last time I called, which is last Friday, the customer service got quite pissed kasi i'm really makulit. I was calling them every week since I cancelled my policy, to follow up on the status of my refund. He insisted the 30-45 days policy but I also insisted that I need the money. He even told me to just call again at the end of the month to follow up. But I think I don't need to. :)

SO for those cancelling their policy or those who wanted to cancel, it would be best to do it asap. Maximize the 15day grace period! I was able to cancel mine in less than 24 hours. Also, don't forget to follow up regularly. Because they are tracking the record of your follow ups. And I think it really helps speed up the process.

Now I'm thinking of closing my current savings account just to be sure as PPLIC knows my account number and I signed an ADA. But when I went to BDO to get an advice, they told me that I have nothing to worry since the policy is cancelled already. They also told me that their not in anyway connected to PPLIC just like what their sales agents claim.

In a way, I'm thankful for the experience because it thought me to be wiser, more patient and persistent. Next time na may lumapit saken na agent makakatikim sila! haha. Thank you again for this blog and god bless everyone!

Salamat naman at you were able to get a full refund. Your determination has paid off and I'm proud of you kahit di kita kilala.

I truly appreciate the fact na bumalik ka at nainform mo kami that you were able to receive it in 12 working days. At least now, yung mga readers dito will be able to read a testimony of what they went through, what they did, and whether they were able to get back their refund.

Hi Joy. As much as I would love to answer your questions, I am unfamiliar with the 3000 plan. What most of the people have experienced here is the 11k endowment plan.

Anyway, aside sa 3000 may monthly payment ka pa ba for the next couple of months or is it just 1 single charge tapos hihintayin mo na maturity nya?

Next, I think your next option is to go back to PPLIC and inquire whether the plan can be cancelled since it hasn't been 24 hours pa naman. Yung sa 11k kasi na endowment plan, cancellation is an option. You could check the comment above yours kasi she had hers (or his) cancelled and her money reimbursed (pero hindi yun 3k na plan).

After that, try to go to your bank and ask what you should do para mavoid yung transaction. They may not be able to void it as of now, but at least you'll have an idea of how to expedite the process.

It was horrible to find out na hanggang ngayon marami pa rin palang biktima itong PPLIC. My friend was almost a victim of this maybe 5-6 years ago when their name was still Berkeley and I even have to make a scene in their office in Megamall just so that my friend could go out. And just today, my gf's cousin received a text from this company saying they won an insurance an a free scholarship from datamex, which even resulted to the agent calling on their landline even though she hasn't given the agent their landline. The agent talked about this company and told her that the only valid ID's that they are accepting to claim the prizes are either ATM or Credit Card only. In the end, they had an argument because my gf insisted on questioning the validity of their freebies and the rude agent even threatened my gf that he/she will sue them. I was surprised that they are still out there and have even improved their way of tricking people.

I am an insurance professional for almost 10 years now and with my love for this industry, I have elevated my status from being an employee to being an Insurance Agent. Knowing that a lot of people has been tricked by this Insurance company and has lost their faith in the Insurance Industry deeply saddens me. My advise is to think before you act and research for the company profile before entering in an contract/policy. There are a lot of Legitimate and well established Insurance companies out there who are not resorting to tactics like PPLIC does and has a better plan and yield that they have. To those who have not yet encountered them, I hope you have been warned enough about this company.

Wow, did the agent really threaten to sue your girlfriend? I doubt that's even possible! Sue her for what- for insisting her point and not accepting their untrustworthy statements? I am appalled by the fact that some of them use dirty tactics and insults to intimidate others.

"My advise is to think before you act and research for the company profile before entering in an contract/policy. There are a lot of Legitimate and well established Insurance companies out there who are not resorting to tactics like PPLIC does and has a better plan and yield that they have. To those who have not yet encountered them, I hope you have been warned enough about this company."- 100% Agree.

I have a very big problem. I have already cancelled my plan and i have my cancellation letter dated July 18, 2012. I have waited and waited and yet the amount that i've been waiting for still hasn't been credited back to my account (ATM). I followed up with the contact number that was indicated on my cancellation letter, twice during the month of September and October and what they repeatedly told was that they have already followed up the 6k refund with my bank. I have called my bank to ask and check if there was 6k that was deposited to my account and the answer was none. So it has already been three months and still there is no 6k that was refunded to my account. I am really frustrated and really desperate to get my money back. DO you guys have any suggestion as to what actions i could make to get my refund.

Not yet? Did they sign your cancellation letter na they have received it? Did you get a new Statement of Account saying your premium was terminated? What did they inform you regarding sa cancellation? Will it be refunded daw?

I am also a victim/plan-holder ng PPLIC, and I have the endowment plan which I got early last year. Same story, just me and my gf taking a very nice stroll along SM Megamall - the rest is what you know happened. Bakasyon lang ako nun since OFW ako and my research came in late for the cancellation (more than 15 days), and me not wanting them to take my money, I decided to continue. I learned that they are indeed legitimate and there are no problems on the claim itself other than the usual delays (point is makukuha mo talaga pera mo based on historical data) but compared to other offers (I have Sunlife and Prudential Life endowment plans also), mas mababa ung returns nila. Another thing to note is, pag plan holder ka na (mine is sort of an investment plan), maya't maya ka nila kukulitin about other plans they have (medical insurance, life insurance, etc.) which kahit ayaw mo na eh maya't maya pa rin ang tawag which is nakakairita most of the time. Anyway, I let this one pass since in a painstaking way, it guided me in dealing with these kind of investments. Moral of the story for me, NEVER decide on an investment within minutes of being introduced to it. Give it a lot of thought and research. Di mawawala ung ganyang offers ng investment so take your time to familiarize before you jump into it.

"I learned that they are indeed legitimate and there are no problems on the claim itself other than the usual delays (point is makukuha mo talaga pera mo based on historical data) but compared to other offers (I have Sunlife and Prudential Life endowment plans also), mas mababa ung returns nila."

One more thing...

"maya't maya ka nila kukulitin about other plans they have (medical insurance, life insurance, etc.) which kahit ayaw mo na eh maya't maya pa rin ang tawag which is nakakairita most of the time."

which I can attest to because I have experienced it myself. And they'll always say...

Kahapon - November 24, 2012 - same happened on me at STar Mall, Shaw Blvd., Mandaluyong City - they approached me in a nice way but unluckily they insisting me to sign in the Auto-Debit Form to my Credit Card. Yes, they are really great marketers, but I refused to sign on the auto-debit form because decision making with money involved should not be done in just 45 minutes.

Every decision that u will make plays a vital role in the upcoming future..mind u guys I hav nothing against u..but in today's fast paced and ever-changing world no one can tel wats goin to happen.no one can also help u wen time comes dt u r in nid.its better to be prepared than nothing at all..I'm not a fan of this company ang bolts q lng n Mali ung strategy nila..God bless us all..

Oh my! I took the savings plan in 2011 and has paid more than 100K already. I am out of the country and just got curious only now. At the back of my mind, something is telling me I had to check out any news of them on the net. My question now is, have they declared bankruptcy or not? Anyway, all these negative comments are making me decide to cancel my policy. I have to find out now how i can do this. I really hope hindi masayang ang pinagpawisan ko...

My mom got scammed by PPLIC as well. Binigay nya creditcard number nya and was unaware that she was signing an auto-debit form because of all the sweettalk on promos and benefits. She cancelled her card but not after charges from PPLIC have appeared in her statement. Sad to say, just hearing the steps you need to take to cancel would make you swear the whole time. hinde iri-reverse ng bank yung transaction because PPLIC will give them a copy of the signed form even if they know you're cancelling, so you will need to file stuff, talk to a lot of people, go to places. What's been done in 30-45 minutes takes 2-4 months to undo.

Help po.. i just signed with them last Nov. 28, 2012. Taga-province po ako and I have no time to go back to manila coz I was just there for a convention. They got 6k out of my account and now I'm very confused and bothered. Mag-dededuct na po ba sila nung 1,610 sa account ko? Yung naka-pay po ng 6k sa inyo, medical insurance lang din po ba covered sa inyo? paki-explain po. Is it possible na sister ko yung papuntahin ko sa office nila para mag-terminate ng account?

I guess investing isn't yet something the masses are confident of doing. And I'd perfectly understand that kasi minsan may kagipitan talagang darating. And most investments are rendered untouchable until their maturity dates, so mahalaga talaga na maunderstand yung ganito.

Yung di ko lang gusto is that some of these agents pressure people or subtlety challenge/ insult their money making decisions (as some of the comments on this post stated) para kumuha ng plan and I believe that a good company does not need to resort to these tactics in order to gain investors/plan holders. Most of the people complaining about them aren't fully aware of what they got themselves into.

Good luck po sa investment ninyo. I started with an 8k plan to see how I'd do kaso I came across personal financial issues kaya yun, I had to terminate kahit na sayang na yung nasimulan ko.

My issue with them began when I had to wait so long for my payout (a little over 45 days). And it worsened when they deducted another 1,610 from my final payout when I was assured that I won't be charged further because I terminated my plan before the grace period lapsed on the monthly payment. Dun na ako nadisappoint and nagalit. That's also the reason why this post is up.

I paid 500 cash sa agent. Para lang makauwi since ang kuleeeet nila. Protection plan chorva daw for a year. No swiping whatsoever of card but i signed aform. Is that legit? Will they be able to access my bank details and auto debit? Kinabahan naman ako.

The best way na talaga is puntahan mo yung office nila na malapit sa inyo to ask again about it. And expect na rin na they will be discouraging you to cancel your SSP. Pero if you've decided, drop by Jonhappiness' blog to learn how to process the cancellation/termination officially.

Please don't be too worried. As I've mentioned in some of the comments, they are legit. Yung scam na sinasabi ng mga posters is the way they "coerce" others to get their plans. Kahit na di na nga gusto ng tao, ipinagpipilitan pa nila. Sa akin naman, yung hindi ko gusto is yung katagalan nung pagreimburse nila ng termination value nya and the way they handled it-not the company's legitimacy.

My sister is currently holding a plan with them and unfortunately, hindi pa nag mature yung plan nya so I can't say much about claiming it. But I can tell you one thing, yung company nila also has a group plan sa PPLIC.

I also got tricked by PPLIC last monday,I was about to go to my dentist at Medical Plaza then I remembered that I forgot to bring any I.D. with me so I won't be able to enter the bldg. So I've decided to go to SM Megamall for a walk and to watch a movie, it was around 3pm and and next schedule was at 5pm so I went for a walk and got to the 5th flr. As I was on my way to take the escalator, I was approached by a marketing rep telling me about their promo wherein I just need to sign up and play a game to get a chance of winning a new Honda Civic or a Bakasyon Grande, on the spot. Then he gave me that raffle ticket to sign and told me that before they could let me play the game for a chance of winning the car, I would need to show a valid I.D. or ATM Card/Credit card that has a balance of over 10k to make ensure them that I won't go selling the car if ever I win it and to hear a 45 minute talk about PPLIC. He asked me if I have a recent transaction receipt that shows the balance is indeed over 10k, I told him I have none. He volunteered to accompany me in doing a balance inquiry and so we did. While on they way to the ATM, he just kept on apologizing that he just needs to be persistent in having me join the promo because he'll get a commission and some 'points' if ever I win and that commission will be sent straight to his family in Cebu because he's the bread winner of the family. I also wanted to help him so I decided to give it a go. He assured me that it will only take 45 mins and there is nothing to in the office for me to pay. As soon as he said that there is no need to pay for anything, I knew that something is up.

He introduced me to Donna, a consultant of PPLIC. She introduced the plans available and prices of each. She focused on the Endowment Plan. Interestingly, the plan is pretty attractive and looks to be a very good investment. She said for an initial payment of Php 36937 and a monthly contribution of Php 1610/mo good for 5 yrs, my money would grow to Php 175000 after 10 more years plus I'll be given benefits of Medical, Accidental, and even Death insurance, each with a Php 300k value. I was really up for it but felt sorry since what I have with my is only my payroll ATM card and they can’t charge me for the amount because It will go over the limit. Then the manager said she can arrange the initial payment to be Php 16937 but monthly contributions will be for 7 years instead of 5 years. I told them I don;t like it because it is not going to earn much interest so I might as well keep my money and invest it in a mutual fund. The manager kept on reiterating the benefits I would receive if I avail the plan with them which never can a bank provide. I was then persuaded. What’s the frustrating is they asked me to make cash withdrawal since their machine can only do 2 charge attempts. To me, it's not even the worst part. What's worst is after I gave them money in cold cash and filling out the forms, the customer relations officer went through a review of the plan to make sure I've understand everything about it. It turned out that the values of benefits that Donna was bragging about are all but plain deception. Benefits are all with just a value of Php 150k.

I'm ok that the value of the benefits I will receive with the plan is just half of what I was informed of, really, but what I hate is the fact she had to make me feel like we were building rapport and she was gaining my trust during our discussion, then bam! I was left there losing my hard earned money, deceived, and fooled of what I thought to be a start of a good client-consultant relationship.

I'm very thankful that I came across this site and learned that what PPLIC and its employees are doing is all but a scheme and deception. Now I'm determined to cancel the endowment plan I've signed for and get the refund while I'm still within the grace period. =)

hi good evening po sa lahat... i was really surprised reading all the comments in this blog, im also a victim of PPLIC, i signed up last jan 15. the moment i read the comments im now enlighten and i will make sure that the contract i signed up will be cancel ASAP. i havent read anything on the doc they gave me. thank you so much for sharing all your experiences.

Wow nice blog..mine was a different story..im an ofw working in dubai for almost eight yirs..i was also convinced and bought their policy 5 yirs ago and sa awa ng Diyos tpos n ako mgbayad..i came to think of it n npkabilis lng tlga ng panahon..kung hindi q un ntuloy mlamang same old habbits and wla mn lng cguro akong naitatabi..it was truly life changing..s mga bloggers hir i hav nothing against anybody hir..bt come to think twice of ur decisions..Godspeed to all..

Hello. As I mentioned above, I made my termination letter doon sa kanila. The person na nag assist sa akin yung nagturo kung ano dapat ko ilagay which included the reason for my termination. I'm sure it goes the same way for the cancellation. Perhaps even easier. Pero the best way na talaga is puntahan nyo nalang po yung office nila.

hi i wonder if you could help us, we wanted to withdraw our money back from PPLIC but the agents there told us that maybe we cannot get our money back because it is a life insurance and we only able to pay for 4 months and an initial deposit of 13thou something.. they told us that if we pay for atleast 2 years we can get all our premiums, but we are not interested in them anymore, is it posible for them to hold our money just because its a LIFE INSURANCE PLAN?is there any other way we could get our money back? thank you so much i hope i can get a reply on these from u..

As for what the agent promised, I doubt that's true. If you check your policy, the two year cash value is far from what you paid for in your premium.

Nevertheless, I could be wrong so you might want to consider having what that agent said officially written so as he/she can be accountable to what he/she said.

Also, you might want to consider terminating early on (where there's a fat change you might not get anything) or paying for the rest of the year and getting approximately 1/3 of what you paid since that's what I got after paying for my premium for a year (and terminating it).

Salamat pala sa pagshare mo nung experience mo. Lesson learned naman sa atin lahat yun eh. Those who got their premiums are blessed and lucky. However, the decisions they made may not apply to all. For those na parang naiipit sa gitna, difficult choices like these are part of life.

Hi guys, me and my wife was a victim also of PPLIC last September 2012, they forced us to make a payment of 3k by using our credit and now I already settled my credit card and closed it, now my question is: If i can still get my 3k that I paid so for my wife? But for my wife she haven't settled her credit card so the charges still in there. I need advice from you guys. Please Please we really need money and everyone does.

tama si haopee, since less than a year ang policy mo at more than 15 days na ang contract (outside of the cooling period) wala kang marerefund sa mga previous premiums mo dahil, technically, between september 2012 and the day that you cancelled your card/policy, insured ka nun (this is with the assumption na may insurance component yung policy na kinuha mo) now since less than a year nga, magkakafund value lang yang policy mo between the 2nd year (maliit nga lang, far less than what you're paying) up until the maturity date. sorry pero wala ka talagang marerefund or kung meron man, sobrang baba compared to your premiums paid

very nice blog..i am a policy holder of this company for almost 10 yrs im waiting for my money alredi my maturity..cant imagine dt drs alot of people that is against this company or the so called marketing strategy nila..so far the company for ne is ok and i can justify that..for people like mine hu works abroad for me it is better to have sumthing than nothing in the near future..kpg my savings k kc ur redi no matter what hapens..wla aqng papanigan dto akin lng we hav all the freewill to knw wat is ryt or wrong..Godbless to us all and for my hardworking kababayans in abroad..

Di klaro scope ng insurance.. What if beneficiary mo is not really fit and has illness? Will they still give life plan if ever somthing happen to them?? Ang nasa waiver lang kasi sa pag sign mo ay ikaw as the one who applied is fit at hindi kasama ang beneficiaries

they told me i can pay the 16000 sa any office nila then that's the time, na magbabayad ako ng 1,600 thru sa atm na. so far wala naman akong naalala na may pinirmahan akong auto-debit form.puro insurance lng ung nakuha ko na only valid for one year and not the endowment policy.I'll just have to confirm this and call BDO just like you suggested para sure. thanks po! God bles..

same situation here. i have been paying my dues diligently for 6 years already and i was surprised when the "manager" talked to me about the termination of my policy. and i was not even informed beforehand through a formal communication regarding their termination of our policy. is this even legal?

there is also a "no-claim bonus" but only after 10 years of continuous payment. but since the policy has been terminated without even the consent of their policyholders, will there be some sort of a refund here?

Hi. I had the same experience with them earlier. Damn those guys, I went to the mall only to buy something, pagpasok ko ng mall hinarang na nila ako. I already said that I really need to go somewhere, pero wala silang pakialam sa oras ng ibang tao, for as long as they get what they want. Paglabas ko sa office sarado na yung shop. Pft.

The good thing is, they didn't get anything from me, but I signed a paper. It's up to the point where you put in your dreams or something of the sort. By any chance, may section na ba about auto-debit yun? Or safe pa naman account ko? Nakaka-worry lang e, though binasa ko naman before signing. Pero am still going to the bank tomorrow just to let them know that I am not authorizing any transactions with the company. TIA sa sasagot.

Did you give them your account number? Did the paper your signed have your account number written in it? I didn't respond to this so soon kasi pumunta na po kayo sa bank which was the best thing to do at this time.

Wala bang nakalagay sa contract nila about sa cancellation? Kasi supposed to be yung 15 days na yan pwede mo mareview yung contract. The reason why it was given 15 days is for you to be able to read and fully understand what was written in it. If you disagree with such uch terms, pwede dapat macancel within that short period.

same happened to me. i was convinced due to pressure and the desire to go home to get an insurance from them. I thought i was getting an endowment savings policy, but after they swiped my card ( asked me first if they can check my atm card and will see if my bank will approve) only did they inform me that i got their LABBS term insurance. Then after 4 days i went back to their office and submitted to them my cancellation letter stating therein that there was a misinformation that had happende wen the agent was discussing to me about the subject of endowment policy and i agreed to such policy and that i was never aware that i was getting a term insurance instead because i only paid them like 4.5K. So i turned in my cancellation letter and the customer assistant there told me that it was non refundable. I told her in return that i was never informed of the non-refundable policy. because it was not stated in the term insurance form that they gave to me. I got angry with them, kinda raised my voice and then finally they accepted my cancellation letter and i asked them to return my money back. The customer assistant told me that she will turn in my letter to their main office but it is still up to the management to decide if they will return my money or not.

i am currently writing a letter to Ben Tulfo and see if he can help me.

Wow! Same story as most of the people here, kanina I was at SM Cebu, this gay approached me, and told me to sign up to their raffle promo, I said: thank you, but im in a hurry, but he still handed me the paper and pen, I dont wanna accept it so i kinda pushed his hands away, his pen fell coz of that, nahiya naman ako so pinulot ko un pen to hand it back, but he wont accept it, he made follow him to their booth, there he said its free nmn daw, all i have to do is fill up the form and answer some questions, tas my freebies pa daw ako makukuha, so i said to myself sige na nga para matapos na, after filling up the form and answering a few questions, congratulations he told me that klangan ko daw umatend ng presentation bago ko ma claim un freebie at para makilala ko daw un company para kun manalo ako pwede ko daw ma endorse un company nila, I really wanted to back out coz antagal nung 45mins, but he begged me so I said ok, out of pity i guess, pag dating nmin sa office ng Prudential, after a few mins, this girl came towards me and xa daw ung mag bbgay ng presentation skin,akla ko tlga presentation lng at introduction lng ng company nila ang mangyayare, but what happend is 5mins lng un introduction about sa company, tas the whole time she was convicing me to apply for their plan and was indirectly telling me that im such an idiot for not having one, eh 23 na daw ako wala pa ako plano para sa kinabukasan ko, it was irritating, porket walang insurance wala ng plano sa buhay?? Super kulit din xa, i said my pnaglalaanan na ako ma importante don sa pera na un and i that i have lots of expenses this month, pero sobrang mapilit parin xa, i even said na pagiicpan ko muna, and that ill be back na lng some other time, but she said one time offer lng daw un, and that its very rare fir them to accept walk in applicants ng plan, wow! I was in a tight spot, sobrang aggresive kasi nya, tas dumating pa ung manager, na corner na tlga ako, they talk to you in a way na anhirap sabhin ng salitang aalis na ako,its like hindi ka tlga nila papakawalan until you say yes, after 3 hours ng stay ko don, napa suko nila ako, i just really wanna go home, wat i availed is the LABB PLUS, kc pnilipt ko tlga sa kanila na hnd ko kya mag endowment which is 18k minimum initial she said. So they took 4.5k from my atm, one time payment lng daw xa, i dont have to pay them monthly, the manager said insured daw ako for 1 year,

My husband was tricked by one of the agents from SM SOUTHMALL. The agents went to their office last July 17, 2013. I have read almost all the blogs, comments, facebook sites for this Philippine Prudential Life Insurance. As soon as he informed me that he signed up for this said insurance policy I checked google and see if they're legitimate or not. Well maybe it is a legitimate business but they use "misleading tactics". They even video taped my husband into signing up and saying there and then that he agrees to whatever terms they call it. When we checked our BDO Credit card we are billed P 39, 338.00 from there we immediately cancelled our card and hopefully to have our plan cancelled.

We went to their office in SM SOUTHMALL personally today July 22, 2013 for the cancellation. They were able to cancel the 30, 338 charged to our account but they mentioned that for them to cancel the 9000.00 for what they call now LABB PLUS which they mentioned it is different from their endowment plan, we would need to write a separate letter to PPLIC and we would need to wait within the week for their confirmation if the 9,000 will be cancelled or not. We are really hoping for an action for this, we want a full amount refund. Same with Eric F. (the comment above me and the anonymous one also). They said that for the LABB PLUS since July 16, 2013 there is no free look up period (Non-refundable, and it cannot be cancelled), it should have been written black and white to what they give to their suspected clients.

I am sorry to hear about this new insurance. Whether they call it aggressive sales strategy or not, I think they should clarify everything and state it in a simple manner para hindi maconfuse ang mga consumers.

Hi blogger,I feel so bad while reading all the comments, and at the same time I am so upset as I was convinced by their misleading tactics. Probably because that time we got too excited since we just landed from abroad. I dont need to reiterate everything since what happened to others happened to us too. Anyways, i can't remember what kind of plan we took but i am pretty sure po that I paid PhP26,000 in cold cash and the monthly premium is 1,300 or 1,600 thru auto debit. I became a member last Dec. 2012 , ask q po my chance po ba na maibalik yong full initial payment ko? I decided to discontinue my payment starting this month po, sabihin nating after a year ko pa po irequest yong termination ng contract q pero i will not continue paying them, kc they said only after a year pa pwedeng maapply yong termination ng policy, pls advise and correct me if i am wrong with my understanding. By the way we are living abroad pala. Thanks

I am not sure kung meron ng cash value yung less than a year. I suggest na ipaterminate mo na kagad because kahit na di mo binabayaran, they will automatically deduct your delayed payments once you claim for the cash value. That's what happened to us. They decided to deduct a payment we supposedly missed when in fact, pasok pa kami sa grace period of the previous month.

I followed the procedures Ms. Jonha Ducayag Revesencio posted on her blog: "jonhappiness.blogspot.com/2010/12/how-to-cancel-your-pplic-philippine" on how to cancel my insurance with the Philippine Prudential Insurance. Unfortunately, the "Term Insurance" I bought which is valid for a year is "nonrefundable" daw. That's what the manager said and I even ask one of their agents if this was true. According to the agent I spoke to, I can only cancel my Term Insurance worth 9 thousand pesos within 14 days upon payment and sadly I am 8 days late. They even told me to make a letter of why I cancel my Letter of Cancellation. What do you think? By the way, PPLIC SM City Ilo-ilo Branch is where I bought my term insurance